TORONTO, October 8, 2024 – Cybeats Technologies Corp. ("Cybeats" or the "Company") (CSE: CYBT, OTCQB: CYBCF), a global leader in software supply chain security, is pleased to announce a private placement offering pursuant to the listed issuer financing exemption of a minimum of 18,750,000 units of the Company (each, a “Unit”) and a maximum of 31,250,000 Units, at a price of $0.16 per Unit, for minimum gross proceeds of $3,000,000 and maximum gross proceeds of $5,000,000 (the “Offering”).

Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one Common Share at a price of $0.22 per Common Share for a period of 24 months from the date of issuance. The Warrants will be governed by the terms and conditions set forth in the certificates representing the Warrants.

The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and therefore the securities issued under the Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. The Company has filed an offering document (the “Offering Document”) related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and at www.cybeats.com. Prospective investors should read the Offering Document before making an investment decision.

The closing of the Offering may take place in one or more tranches, provided that the closing of the final tranche of the Offering will occur no later than November 21, 2024, being 45 days following the date hereof. The Offering is subject to certain conditions including, but not limited to, the receipt of a minimum gross proceeds of $3,000,000.

The Company intends to use the proceeds raised from the Offering to improve its sales and marketing infrastructure, for product delivery and core product advancement and for general corporate working capital purposes.

In connection with the Offering, the Company may pay certain eligible finders a cash fee of up to 7% of the gross proceeds raised in respect of the Offering from subscribers introduced by such finders to the Company. The Company may also issue to eligible finders such number of finder warrants (each, a “Finder Warrant”) equal to 7% of the number of Units sold under the Offering to subscribers introduced by such finders to the Company. Each Finder Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.22 per share for a period of 24 months following the date of issuance.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

About SBOM Studio

As the industry’s first and leading SBOM manager, SBOM Studio identifies software supply chain risks in real time, tracks and manages software vulnerabilities, and helps ensure compliance with ExecutiveOrder 14028. In the past year alone, more than 75% of software supply chains were exposed to cyberattacks— and 40% of organizations took a month or longer to recover. 1 With the key benefits of vulnerability monitoring, automated risk analysis, and regulatory compliance, SBOM Studio helps its clients achieve improved cybersecurity outcomes, and serves a broad range of users in the software supply chain. 2 Learn more here about how Cybeats can help you to manage risk and meet evolving cyber regulatory requirements.

About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com

SUBSCRIBE: For more information, or to subscribe to the Company’s mail list, visit: https://www.cybeats.com/investors

Contact:

James Van Staveren

Corporate Development

Phone: 1-888-713-SBOM (7266)

Email: ir@cybeats.com

¹ https://www.blackberry.com/us/en/company/newsroom/press-releases/2024/software-supply-chain-attack-have-increased-financial-and-reputational-impacts-on-companies-globally-new-blackberry-research-reveals
² https://www.cisa.gov/sbom

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.  There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein.  The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.  The reader is cautioned not to place undue reliance on forward-looking statements.  Company filings are available at sedar.com.